We are sprinting towards the end of the year and with 2025 soon drawing to a close, it’s a good time to reflect and analyse whether you are on target to achieve your business and financial goals this year.

With the final few months of the calendar year being a significant time of year for businesses, especially with events like Halloween and Christmas, you will need to check that you are on target to achieve what you set out at the beginning of the year.

As well as this, you may also have one eye on 2026 and are keen on setting new goals, building momentum on this year’s performance and preparing for any changes in tax rates and reporting.

This is where skilled accountants can really help your business. They help you assess your current targets and determine whether you are on track and help you plan ahead.

Why setting realistic business and finance goals is so important

Goal setting gives your business something to aim and work for and allowing you to stay on track and focus on those targets and take your business to the next level.

You have set goals around revenue and profit figures, growing your team and services or perhaps initiating your expansion plans within budget. Whatever you have set yourself, it gives you something to strive for.

Setting business and financial goals is the easy part because things can change rapidly in the business world and it’s important you are prepared and have measures in place to combat challenging scenarios like changes to interest, inflation and tax rates, an increase in staff and operational costs and a stagnant market and increased competition.

While setting goals is important, these should also align with your current business strategy so that they are realistic and don’t put your business at risk of financial collapse or regression.

The importance of the final quarter of the year and having an effective strategy in place

The final quarter of the business year is always important, as it is the final period of the year to really push and ensure you meet the targets you have set for yourself and your business.

The last three months of the calendar year are valuable in more ways than one. It brings the spooky season in Halloween, the festival of light in Diwali, and the festive season in Christmas and New Year, which will increase consumer spending habits.

However, you also need to keep in mind that the Autumn Budget will be announced at the end of next month.

While it remains unclear at this stage what Chancellor Rachel Reeves will announce, you need to factor in any changes when the Budget is delivered on 26 November.

Preparation is key and you need to ensure your strategy for the final period of the year, while aligning with your goals, also has contingency plans in place to accommodate the immediate financial impact the Budget could bring, even with changes likely to be phased in over time.

Why accountants are so valuable to you and your business

Whether you are on target to achieve your goals or not, our expert team of accountants can provide you with valuable advice and support.

We can help you assess your figures and strategies to see if you are on track to meet your goals, spot opportunities and help you set new targets for 2026.

We can also advise you on changes coming in 2026 that will impact your business, including changes to payroll with National Minimum Wage (NMW) and National Living Wage (NLW) likely to change and other costs like National Insurance (NI).

There are also significant changes if you are a self-employed business owner, sole trader or a landlord with Making Tax Digital (MTD) coming into effect for Income Tax Self-Assessment returns.

From April 2026, if your turnover exceeds £50,000, you will need to follow the MTD guidelines, meaning the way you report to HMRC will change. You will need to submit quarterly returns to HMRC, with all your financial records being kept digitally and submitted when required.

You need to be prepared if this does impact you and we can help. Accountants are so valuable to your business and if you want to check you are on track to achieve your goals for 2025, our team is ready to help.

Whether you want to check you are on target or want to plan for 2026, contact our expert team of accountants.